Companies Absorbing Heat from Medical-Device Tax

Companies Absorbing Heat from Medical-Device Tax-wsj: With Congressional Republicans currently focusing on the repeal of a tax on medical devices as their best opportunity to chip away at the Affordable Care Act, CFO Journal sought to get a sense of what’s at stake for corporate America. The law imposes a 2.3% excise tax on the sale in the United States of certain medical devices by a manufacturer, producer or importer of such devices. Several companies said they absorbed the tax into regular operating expenses. Edwards Lifesciences Corp. said the tax increased its operating expenses in its latest full-year filing. but did not break out the tax in reporting its 2014 expenses which rose by $124.6 million, according to a February filing. It paid $15.8 million in excise tax in 2013.